NETSTREIT Corp. (NTST) Announces Launch of 8M Share Public Offering of Common Stock

NETSTREIT Corp. (NYSE: NTST) announced today that it has commenced a public offering of 8,000,000 shares of its common stock, which is subject to market and other conditions. The Company also intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of common stock.

The Company intends to contribute the net proceeds of this offering to its operating partnership in exchange for Class A limited partnership units in the operating partnership and the operating partnership intends to use approximately $13.0 million of the net proceeds to repay borrowings under the Company’s revolving credit facility that were drawn after December 31, 2020 to fund acquisitions of properties and the remainder for general corporate purposes, which may include acquisition of properties in the Company’s pipeline.

Wells Fargo Securities, BofA Securities, Jefferies and Stifel are acting as the book-running managers for the offering. Stifel is serving as capital markets advisor in connection with the offering.

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